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2012_03_13_O008 2012 Tax RateThe Town of Virginia PRESENTED: March 13.2012 ORDINANCE NO. 2012 -0 -008 ADOPTED: March 13.2012 AN ORDINANCE: ORDAINING SECTION 20 -22 (ANNUAL LEVY AND RATE OF TAXES), ARTICLE II. (TAXATION GENERALLY), CHAPTER 20 (LICENSES, TAXATION AND MISCELLANEOUS REGULATIONS *), AND APPENDIX B (FEE SCHEDULE) OF THE TOWN CODE OF LEESBURG SETTING TAX RATES ON REAL ESTATE, VEHICLES USED AS MOBILE HOMES OR OFFICES, AIRCRAFT, TANGIBLE PERSONAL PROPERTY, REAL ESTATE AND TANGIBLE PERSONAL PROPERTY OF PUBLIC SERVICE CORPORATIONS, AND BANK CAPITAL FOR TAX YEAR 2012; AND AMEND APPENDIX B (FEE SCHEDULE) OF THE TOWN CODE OF LEESBURG TO INCLUDE A REDUCED PROPERTY TAX RATE FOR QUALIFIED VEHICLES WITH A VALUE OF $20,000 OR LESS The Council of the Town of Leesburg in Virginia hereby ordains: SECTION I. That Section 20 -22 (Annual levy and rate of taxes), Article II (TAXATION GENERALLY), Chapter 20 (Licenses, Taxation and Miscellaneous Regulations *) of the Town Code of Leesburg is hereby reordained to read as follows: Taxes shall be levied and collected as provided by law on taxable real estate, vehicles used as mobile homes or offices, aircraft, tangible personal property, public service corporations, and bank capital in the town for each tax year beginning January 1St and ending December 31St for the support of the town government, payment of interest on town debt and for other town purposes. Each person assessed taxes by the town shall pay them as required by law. SECTION II. Appendix B Fee Schedule Section 20 -22 Annual tax levy: (1) Taxes on all real estate and all tangible personal property, except the property of public service corporations: 7 AN ORDINANCE: ORDAINING SECTION 20 -22 (ANNUAL LEVY AND RATE OF TAXES), ARTICLE II. (TAXATION GENERALLY), CHAPTER 20 (LICENSES, TAXATION AND MISCELLANEOUS REGULATIONS *), AND APPENDIX B (FEE SCHEDULE) OF THE TOWN CODE OF LEESBURG SETTING TAX RATES ON REAL ESTATE, VEHICLES USED AS MOBILE HOMES OR OFFICES, AIRCRAFT, TANGIBLE PERSONAL PROPERTY, REAL ESTATE AND TANGIBLE PERSONAL PROPERTY OF PUBLIC SERVICE CORPORATIONS, AND BANK CAPITAL FOR TAX YEAR 2012; AND AMEND APPENDIX B (FEE SCHEDULE) OF THE TOWN CODE OF LEESBURG TO INCLUDE A REDUCED PROPERTY TAX RATE FOR QUALIFIED VEHICLES WITH A VALUE OF $20,000 OR LESS Classification of Property Rate of Tax per $100.00 per Assessed Value a. Real Estate $0.195 b. Vehicles used as mobile homes or offices $0.195 C. Aircraft $0.001 d. All other Tangible personal property $1.00 (2) Taxes of all real estate and all tangible personal property of public service corporations shall be as follows: Classification of Property Rate of Tax per $100.00 per Assessed Value a. Real Estate $0.195 b. All other Tangible personal property $1.00 (3) Tax on all bank capital: $0.80 per $100.00 of the net capital of banks located in the town shall be established by the council pursuant to Title 58, Chapter 10.01 of the Code of Virginia. SECTION III. Section B (FEE SCHEDULE) of the Town Code is amended to include the following: Section 20 -24 Tangible Personal Property Tax Rates for Qualified Vehicles Tangible Personal Property Qualified Vehicle — (Non- Commercial) Rate of Tax per $100.00 per Assessed Value a. Up to the first $20,000 of a qualified vehicle IL48 b. Over the first $20,000 of a qualified vehicle $1.00 SECTION IV. All prior ordinances in conflict herewith are hereby repealed. AN ORDINANCE: ORDAINING SECTION 20 -22 (ANNUAL LEVY AND RATE OF TAXES), ARTICLE II. (TAXATION GENERALLY), CHAPTER 20 (LICENSES, TAXATION AND MISCELLANEOUS REGULATIONS *), AND APPENDIX B (FEE SCHEDULE) OF THE TOWN CODE OF LEESBURG SETTING TAX RATES ON REAL ESTATE, VEHICLES USED AS MOBILE HOMES OR OFFICES, AIRCRAFT, TANGIBLE PERSONAL PROPERTY, REAL ESTATE AND TANGIBLE PERSONAL PROPERTY OF PUBLIC SERVICE CORPORATIONS, AND BANK CAPITAL FOR TAX YEAR 2012; AND AMEND APPENDIX B (FEE SCHEDULE) OF THE TOWN CODE OF LEESBURG TO INCLUDE A REDUCED PROPERTY TAX RATE FOR QUALIFIED VEHICLES WITH A VALUE OF $20,000 OR LESS SECTION V. Severability. If a court of competent jurisdiction declares any provision of this ordinance invalid, the decision shall not affect the validity of the ordinance as a whole or any remaining provisions of the Leesburg Town Code. SECTION VI. This ordinance shall be effective July 1, 2012. PASSED this 13th day of March, 2012. 51 Mayor Town of Leesburg ATT T- Clerk k of Co it P:\0rdinances\2012 \0313 2012 Tax Rate Ordinance.doc